14 Cornhill Bury St Edmunds Suffolk IP33 1DY

14 Cornhill
Bury St Edmunds
Suffolk
IP33 1DY

Prime High Yielding Freehold Retail Investment

Entirely let to The Works Stores Limited
New 5 year lease renewal from September 2022 (subject to option) (2)
Approximately 4,043 sq ft
Close proximity to Arc Shopping Centre
Nearby occupiers include Marks & Spencer, Tesco Express, Sports Direct, JD Sports, Superdrug, Boots the Chemist, The Body Shop, Holland & Barrett and H. Samuel

Lot
23
Auction
30th March 2023
Rent
£85,000 per Annum Exclusive
Status
Sold
Price
£850,000
Auction Venue
Live Streamed Auction
On Behalf of a Real Estate Investment Trust

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Prime High Yielding Freehold Retail Investment

Entirely let to The Works Stores Limited
New 5 year lease renewal from September 2022 (subject to option) (2)
Approximately 4,043 sq ft
Close proximity to Arc Shopping Centre
Nearby occupiers include Marks & Spencer, Tesco Express, Sports Direct, JD Sports, Superdrug, Boots the Chemist, The Body Shop, Holland & Barrett and H. Samuel

Lot 23
Auction 30th March 2023
Rent £85,000 per Annum Exclusive
Status Sold
Price £850,000
Sector
High Street Retail
Auction Venue
Live Streamed Auction
On Behalf of a Real Estate Investment Trust

Property Information

Location

Miles: 26 miles north-west of Ipswich, 28 miles east of Cambridge
Roads: A11, A14, A134, A143, M11 (Junction 10)
Rail: Bury St Edmunds Railway Station
Air: Stansted Airport

Situation

The property occupies one of the finest trading locations on the western side of Cornhill, within close proximity to Arc Shopping Centre where retailers include Pandora, Clarks, Crew Clothing, H&M, Superdry, River Island, Byron and Nandos. Other nearby occupiers include Marks & Spencer, Tesco Express, Sports Direct, JD Sports, Superdrug, Boots the Chemist, The Body Shop, Holland & Barrett and H. Samuel.

Tenure

Freehold.

Location

Miles: 26 miles north-west of Ipswich, 28 miles east of Cambridge
Roads: A11, A14, A134, A143, M11 (Junction 10)
Rail: Bury St Edmunds Railway Station
Air: Stansted Airport

Situation

Tenure

Freehold.

Description

The property comprises a shop arranged on the ground, basement and first floors with the property benefitting from trading at first floor level.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Band C

Description

The property comprises a shop arranged on the ground, basement and first floors with the property benefitting from trading at first floor level.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Band C

Tenancy & Accommodation

Floor	Use	Floor Areas Approx sq m	Floor Areas Approx sq ft	Tenant	Term	Rent p.a.x.
Ground Basement First	Retail Ancillary Retail/Ancillary	152.45 99.79 123.33	(1,641) (1,074) (1,328)	THE WORKS STORES LIMITED (t/a The Works) (1)	5 years from 10/09/2022 (2) on a full repairing and insuring lease	£85,000
Total		375.57	(4,043)			£85,000

(1) For the year ending 1st May 2022, The Works Stores Limited reported a turnover of £264,630,000, a pre-tax profit of £12,858,000 and a net worth of £17,878,000. (www.northrow.com)
(2) The lease is subject to a tenant option to determine on 10/09/2025

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.